U.S. Congress legislation · 119th Congress
SB5631: SOAR Act
Status: In committee, September 30, 2026
A bill to amend the Small Business Act to create a program to provide funding for organizations that support startup businesses in formation and early growth stages by providing entrepreneurs with resources and services to produce viable businesses, and for other purposes.
What the bill says
To amend the Small Business Act to create a program to provide funding for organizations that support startup businesses in formation and early growth stages by providing entrepreneurs with resources and services to produce viable businesses, and for other purposes.
From the introduced text, September 30, 2026:
A BILL To amend the Small Business Act to create a program to provide funding for organizations that support startup businesses in formation and early growth stages by providing entrepreneurs with resources and services to produce viable businesses, and for other purposes. SECTION 1. Short title This Act may be cited as the Startup Opportunity Accelerator Act of 2026 or the SOAR Act . SECTION 2. Findings Congress finds that-- (1) startups have contributed greatly to the United States economy, with research showing that between 1982 and 2011, businesses 5 years or younger were responsible for nearly every net new job created; (2) startups face common challenges as they seek to transform their ideas into successful, high-growth businesses; (3) 4 metropolitan areas in 3 States--the San Francisco Bay Area, New York City, Boston, and Los Angeles--receive nearly 67.5 percent of all venture capital investment, which is a critical source of funding for high-growth startups; (4) of the venture capital funding that startups receive, percent are African-American-owned, 1.5 percent are Latino-owned, and only 1.9 percent are owned solely by women; (5) incubators and accelerators are new models of growth that drive innovation by connecting entrepreneurial individuals and teams to create viable business ventures and social initiatives; (6) incubators and accelerators support promising startups through partnerships, mentoring, and resources connecting them with …
Sponsors
- Booker, Cory (D) · primary sponsor
- Van Hollen, Chris (D)
- Hirono, Mazie (D)
- Lisa Rochester (D, SD-DE)
Latest actions
- : Read twice and referred to the Committee on Small Business and Entrepreneurship.
- : Introduced in Senate
Subjects: Commerce
Common questions
- What is SB5631?
- SB5631 is a bill in Congress (119th Congress): SOAR Act.
- What does SB5631 do?
- In its own words: To amend the Small Business Act to create a program to provide funding for organizations that support startup businesses in formation and early growth stages by providing entrepreneurs with resources and services to produce viable businesses, and for other purposes.
- What is the status of SB5631?
- In committee as of September 30, 2026. Latest action: Read twice and referred to the Committee on Small Business and Entrepreneurship. (September 30, 2026).
- Who sponsored SB5631?
- Booker, Cory (D), with 3 co-sponsors.
- Where is the official record for SB5631?
- On the Congress website: https://www.congress.gov/bill/119th-congress/senate-bill/5631
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.